SoFi Technologies (NASDAQ:SOFI) Sets New 52-Week High – Still a Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $12.19 and last traded at $11.99, with a volume of 5776470 shares trading hands. The stock had previously closed at $11.42.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC raised their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Barclays upped their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Stock Performance

The stock has a fifty day moving average price of $8.90 and a 200 day moving average price of $7.65. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The firm has a market cap of $12.68 billion, a price-to-earnings ratio of 119.00, a price-to-earnings-growth ratio of 1.79 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the transaction, the executive vice president now owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of SoFi Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. lifted its position in SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after buying an additional 86,545 shares in the last quarter. Mark Asset Management LP raised its stake in shares of SoFi Technologies by 79.9% in the second quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after acquiring an additional 151,265 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of SoFi Technologies by 64.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after purchasing an additional 115,316 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of SoFi Technologies by 233.3% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock valued at $661,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in shares of SoFi Technologies by 7.4% in the third quarter. Diversify Advisory Services LLC now owns 813,589 shares of the company’s stock valued at $6,395,000 after purchasing an additional 56,245 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.